Market value of Arabian Centres' properties hit SAR 19 bln in 2018

Arabian Centres Co.'s aggregate market value of 22 properties stood at SAR 19.09 billion as on Dec. 31, 2018, according to the company's prospectus.

The company's properties were valued by JLL.

The market value is the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion, according to JLL.

New shopping malls, expansions and sites – that are not under construction but have not yet started operations - were excluded from the valuation.

Excluded items are Najd site, Zahra site, Jeddah Park, the first and second phases of Nakheel Mall expansion in Riyadh, along with unutilized land plots (Riyadh's Mall of Arabia, Jawharat site and Qassim land).